Business

Economy in recession range, with GDP contracting 0.9% in second quarter

By Zach Halaschak
Published July 28, 2022 12:30pm ET
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Economy in recession range, with GDP contracting 0.9% in second quarter
In this May 4, 2018 photo, technicians works on the wiring of a twin-engine Lakota helicopter, at the Airbus Helicopters, Inc., manufacturing facility in Columbus, Miss. U.S. factories cranked out more appliances, computers and aircraft last month, lifting manufacturing production for only the second time in five months. The Federal Reserve said Wednesday, May 16, that factory output rose 0.5 percent in April after a flat reading in March. | (AP Photo/Rogelio V. Solis)

America’s GDP fell at a 0.9% annualized rate in the second quarter, a preliminary estimate from the Bureau of Economic Analysis showed Thursday morning.

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GDP Inflation Recession